FX.co ★ Turkey Inflation Slows to 33.5% in July

Turkey's annual inflation rate decreased to 33.52% in July 2025, down from 35.05% in June, falling short of market expectations pegged at 34.05%. This decline marks the fourteenth consecutive month of reduced consumer inflation and represents the lowest rate since November 2021. The moderation in price growth was evident across several categories, notably in food and non-alcoholic beverages, which saw inflation at 27.95% compared to 30.20% previously. Similarly, inflation in housing and utilities eased to 62.01% from 65.54%, and in transport decreased to 26.57% from 27.72%. A reduction was also noted in the inflation rates for clothing and footwear (10.67% compared to 14.47%), household furnishings and maintenance, which saw a slight decrease to 30.13% from 30.19%, as well as in hotels, cafes, and restaurants (34.16% compared to 35.59%), and health services (37.49% compared to 38.70%). Core inflation also saw a reduction, slipping to 34.70% from 35.64% in June. On a monthly scale, consumer prices experienced a rise of 2.06%, up from 1.37% in June, yet remaining beneath the anticipated increase of 2.40%.